L.A. might ban cashless businesses. Here’s what’s at stake
L.A. might ban cashless businesses. Here’s what’s at stake
- August 22, 2023
- Bill Maurer, anthropology, Los Angeles Times, Aug. 22, 2023
-----
“In L.A., we continue to have a problem with access and affordability of basic banking services,” said Bill Maurer, a professor of anthropology [and dean of social sciences] at UC Irvine who studies currency and payment technologies. … Underbanked people may have a bank account but also rely on alternative financial services. “Maybe they can just barely hold on to their bank account and keep their minimum balance, but are constantly getting into situations where they’re going into overdraft and having to pay overdraft fees, and so on,” Maurer explained. “And so while they may have a bank account, they just don’t use it.”
For the full story, please visit https://www.latimes.com/business/story/2023-08-22/l-a-might-ban-cashless-businesses-heres-whats-at-stake.
-----
Would you like to get more involved with the social sciences? Email us at communications@socsci.uci.edu to connect.
Share on:
Related News Items
- Careet RightThree UC Irvine professors named co-editors of prestigious Law & Society Review
- Careet RightWhy some payments companies want to be banks
- Careet RightFormer NYC mayor Eric Adams accused of crypto scam shortly after leaving office
- Careet RightThe penny stops here: As 200-year-old coin ends its run, retailers face costly shift without clear rules
- Careet RightBanks plead for federal guidance as penny shortage spreads